McGrath John P 4

What Happened John P. McGrath, a director of Lake Shore Bancorp, received an equity award on December 9, 2025, totaling 8,220 shares (reported as a derivative award at $0.00 per share). The award includes restricted stock and stock options rather than an open-market purchase; no cash was paid by McGrath for the grant.

Key Details

• Transaction date and type: 2025-12-09 — Grant/Award (derivative), reported at $0.00 per share.
• Award size: 8,220 shares total (mix of restricted stock and options).
• Footnote F1: 899 shares are restricted stock that vest on March 12, 2026.
• Footnote F2: Stock options vest at 20% per year beginning December 9, 2026.
• Shares owned after transaction: Not specified in the provided excerpt — check the full Form 4 for total beneficial ownership.
• Filing timeliness: Form filed 2026-01-23 for a 2025-12-09 grant; this appears to be a late filing (Form 4s are typically due within two business days), which reduces near-term transparency.

Context This was an equity award (derivative grant), not a market purchase or sale. Restricted shares typically cannot be sold until they vest (here, 899 shares vest March 12, 2026), and options vest over future years (20% per year starting Dec 9, 2026), so the awards do not translate into immediately liquid shares. Awards to directors are common as part of compensation and do not, by themselves, indicate a director’s intent to buy or sell additional stock.